Mike's 203k Blog

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Home Inspector - 203kOnLine.com, covering the USA - S0289
203k loans, the hottest renovation loan product on the market. Offering quick closings on homes that require repairs.

ARCHIVED BLOG POSTS

2011 

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now and then you hear about a 203k loan that went wrong. I'm not going to sugar coat anything here but most of those could have gone right had they been working with a "TEAM" of experts who know what they are doing. A team is like a well tuned engine. You don't have to be an expert if you work wi...
07/30/2011
Look at this handsome lot from a photo take today at the Pemco event at the Blake Hotel downtown Charlotte Walter Wilson, The Mike Young Team Eric Storm - Prospect Mortgage David Sovde, The Mike Young Team Thanks for the report and photos guys, sorry we couldn't be there with ou. Glad to see such...
07/28/2011
Purchase and renovation is still the big thing in Berkeley CA. There are just so many neglected homes there that the FHA 203k loan makes the most sense for the masses. While the mortgage limits are heading downward for the first time in a couple years, NOW may be the last chance you get at these ...
07/25/2011
Met an interesting guy at Homestead Mortgage in Jackson CA yesterday after doing a 203k inspection. He specializes in the Steamlined k whie I was doing a "full 203k" for Wells Fargo Home Mortgage - Jacob Warren. Jacob is one of the more knowledgeable renovation lenders in CA. Lots of people say t...
07/22/2011
Congratulations to Ed Rogers of Wells Fargo as one of the top 4 renovation lenders in the nation and located right here in Walnut Creek CA.  Ed Roger is a "one of a kind" renovation lender... talk about service to his clients, tops... when Ed puts a 203k loan together you KNOW it will close. Whil...
07/13/2011
The maximum mortgage amount is going down shortly. Some banks have already imposed the new lower limit which is $625,000. As I understand it the higher loan limits at some other lenders remains at the higher level for the moment but they are all looking at moving the loan limits on loans that clo...
07/13/2011
You can tell people a hundred times that time is of the essense and the work should progress at a good pace through completion. Sometimes it falls on deaf ears. Example 1: Recently a client closed a 203k loan and became incomunicative. No one could get hold of her. The contractor failed to start ...
07/11/2011
I love seeing all these different design styles...  isn't it nice how new windows seem to make a difference?. The 203k loan program is making a difference in all neighborhoods as it should. If you have a home that needs some sprucing up then the FHA 203k loan program may be just what you need. I ...
07/10/2011
I must get 5-6 calls per week from contractors who have found out something about the FHA 203k loan program who confess after a while that they are small contractors and really don't have the wherewith-all to finance their jobs.  Do not dispair, the Streamlined k is just what the doctor ordered f...
07/06/2011
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